lucif (OP)
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April 14, 2013, 08:58:19 AM Last edit: April 14, 2013, 10:29:55 AM by lucif |
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Look what they say! ZOMG https://mtgox.com/press_release_20130412.htmlThere is no doubt that we are expecting a violent crash of Bitcoin after trading resumes, but we are confident that this Panic Sell will be temporarily and that Bitcoin will rise again. This claim can be recognized as promising of further high returns. http://www.sec.gov/answers/ponzi.htmA Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity. Bitcoin missed only one sign of financial pyramid: promises of high returns. And here is it! Congrats gox, well done.
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Ekaros
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April 14, 2013, 09:03:39 AM |
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Are exchanges even allowed to say things like that?
Those guys are jokes. It's not their job to speculate on the value, just offer the best service possible.
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Come-from-Beyond
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April 14, 2013, 09:20:00 AM Last edit: April 14, 2013, 09:32:53 AM by Come-from-Beyond |
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Look what they say! ZOMG https://mtgox.com/press_release_20130412.htmlThere is no doubt that we are expecting a violent crash of Bitcoin after trading resumes, but we are confident that this Panic Sell will be temporarily and that Bitcoin will rise again. This claim can be recognized as promising of further high returns. http://www.sec.gov/answers/ponzi.htmA Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity.
Seems u r right but ur opinion is quite biased. U've sold ALL coins if I remember correctly, haven't u?
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wojtek
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April 14, 2013, 09:20:45 AM |
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yeah, i noticed that too. so mtgox speculate over bitcoin price. very unprofessional.
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smoothie
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LEALANA Bitcoin Grim Reaper
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April 14, 2013, 09:24:48 AM |
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Look what they say! ZOMG https://mtgox.com/press_release_20130412.htmlThere is no doubt that we are expecting a violent crash of Bitcoin after trading resumes, but we are confident that this Panic Sell will be temporarily and that Bitcoin will rise again. This claim can be recognized as promising of further high returns. http://www.sec.gov/answers/ponzi.htmA Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity.
Lucif, I don't see where they PROMISE anything in terms of returns. You need to get your facts straight. I agree they shouldn't be speculating on the price in lieu of their customers but claiming something is a ponzi without showing 100% that by definition it matches makes you look retarded.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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arepo
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this statement is false
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April 14, 2013, 09:27:30 AM |
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someone needs to delete this post... it is a bald assertion that is false to anyone's knowledge.
i understand we all hate mt gox but accusations like this are serious, and crying wolf on legitimate business just helps real ponzis battle rumors.
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this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period. 18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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CliffordM
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April 14, 2013, 09:28:25 AM |
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I see the quotation 'will rise again' to be more of the biblical type, meaning that it will not die.
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oakpacific
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April 14, 2013, 09:31:42 AM |
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As far as I am concerned, when you spell "bitcoin" with the first letter capitalized, you are talking about the currency, the network and community as a whole, not the unit itself, so I would interpret their statement to mean" Bitcoin will not die because of this." But, yeah, it can be misleading. Even if it is the other case, Gox may just tried to be Captain obvious, not Charles Ponzi. Suppose the bitcoin price does not rise again, there are only two remaining scenarios, it goes straight down or flatline, either way Gox can't make money anymore and has to close, so obviously they have to believe the price will rise again.
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lucif (OP)
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April 14, 2013, 09:42:02 AM |
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someone needs to delete this post... it is a bald assertion that is false to anyone's knowledge.
i understand we all hate mt gox but accusations like this are serious, and crying wolf on legitimate business just helps real ponzis battle rumors.
Actually this is bad press release. Assertion is secondary.
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oakpacific
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April 14, 2013, 09:45:09 AM |
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someone needs to delete this post... it is a bald assertion that is false to anyone's knowledge.
i understand we all hate mt gox but accusations like this are serious, and crying wolf on legitimate business just helps real ponzis battle rumors.
Actually this is bad press release. Assertion is secondary. It is, but if you read the statement carefully, you can see many mistakes made. They capitalize the initials of the phrase "panic sell", and use "temporarily" in place where they should use "temporary", I suspect that whoever put that down could be in serious hangover after all that happened that day. Since it's just one single instance I will give them the benefit of doubt, if I see the same thing to happen another 2 or 3 times, I may raise my level of suspicion.
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lucif (OP)
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April 14, 2013, 09:45:38 AM |
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lucif (OP)
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April 14, 2013, 09:48:23 AM |
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We are confident ... that Bitcoin will rise again. Nuff said.
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Bitcoin Oz
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April 14, 2013, 09:49:48 AM |
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You actually use mt gox still ? huh
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Luno
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April 14, 2013, 09:50:19 AM |
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Their main source of income is not depending on higher prices directly, but price attracts interest which leads to more trades with them.
Price recovering would also be an indicator that the market didn't got scared because of the DDos and if that was their belief at the time such statement makes sense.
However DDossing has happend two times since and Gox have babied the price afterwards each time with their cool down periods. If this ever goes to a court of law they have to proof that they never had any agreement with the DDosser as their efforts to recover trust and get people buying again two times more have led to yet another attack.
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molecular
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April 14, 2013, 09:58:35 AM |
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Are exchanges even allowed to say things like that?
Those guys are jokes. It's not their job to speculate on the value, just offer the best service possible.
That's not true. It's not their "job" to do anything. Their goal might be to make money. It's the responsibility of the customer to take his business elsewhere if he doesn't like the show any more.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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silverback
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April 14, 2013, 09:58:43 AM |
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I really don't understand how MtGox is still the default exchange. What with all you highly skilled technical enthusiasts devoting so much time an energy to the bitcoin experiment. Oh, wait, that would be actual work and not just a circlejerk. My bad.
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Hawkix
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April 14, 2013, 10:29:03 AM |
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We are confident ... that Bitcoin will rise again. Nuff said.
When I say that Phoenix will rise from dust, does it mean it will be traded on higher price? Please, distinguish between Bitcoin and its price. And do not take MtGox English too seriously.
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lucif (OP)
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April 14, 2013, 10:32:11 AM |
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We are confident ... that Bitcoin will rise again. Nuff said.
When I say that Phoenix will rise from dust, does it mean it will be traded on higher price? Please, distinguish between Bitcoin and its price. And do not take MtGox English too seriously. If you sell Phoenix and take money for it, and say it will rise - it is clear Ponzi with all such conditions. If you don't sell Phoenix and tell it will rise - it's not a Ponzi. Feel the difference?
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rebuilder
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April 14, 2013, 10:33:43 AM |
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Sounds like Gox knew they'd be blamed for the crash and tried to talk an angry mob down a bit.
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Selling out to advertisers shows you respect neither yourself nor the rest of us. --------------------------------------------------------------- Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
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Vandroiy
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April 14, 2013, 10:34:36 AM |
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That statement does look like investment advice.
It would be better to keep these things separate from statements by the exchange. Keeping the mania alive is very much in Gox' interest and a naïve person might go by it.
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